Ravenquest Biomed Inc (RVVQF)

[centurycom]

RavenQuest BioMed Expands Into Europe
GlobeNewswireMay 22, 2019, 6:00 AM EDT
VANCOUVER, British Columbia, May 22, 2019 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT1) (the “Company” or “RavenQuest”) is pleased to announce that it has signed a Heads of Agreement (the “HoA”) with Norway's Cannabis Biocare A/S (“Cannabis Biocare”) to enter into a joint venture (“JV”) to construct cannabis production facilities using RavenQuest's Orbital Garden grow technology in certain geographic regions. It is anticipated that production facilities will be constructed within twenty-four months, with the capacity to produce up to 35,000 kilograms of cannabis annually. RavenQuest will own a fifty-percent equity interest in the JV.

According to the HoA, RavenQuest will grant the JV use of its Orbital Garden grow technology, intellectual property and developed microbes.

Cannabis Biocare will provide full funding for facility build-outs and cannabis technologies including orbital gardens and startup expenses for all facilities within the regions